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I love China and miss visiting. I don't miss and am haunted by my last visit, watching an elderly woman, broom in-hand, fruitlessly swept snow from an unplowed
by rrggrr 10y ago
I love China and miss visiting. I don't miss and am haunted by my last visit, watching an elderly woman, broom in-hand, fruitlessly swept snow from an unplowed highway as cars (including mine) sped past.
The United States spends nearly the equivalent of China's entire 2013 budget meeting past commitments its made to its citizens and debt holders in the form of mandatory spending programs and debt service. Despite record revenues in 2015, thanks in part to increased payroll taxes that hit almost every American, the US still can't balance its budget.
This is increasingly the case in China, where the costs of maintaining infrastructure are putting severe pressure on many provincial and city governments.
You cannot judge all of China by Shanghai. Perhaps Mr Rosenstiel can author something in Governing about meeting existing obligations and balancing the budget before he proposes new spending.